Mubadala Fails to Find Hydrocarbon at Rojana-1 Well in Gulf of Thailand

KrisEnergy Ltd. (KrisEnergy or the Company), an independent upstream oil and gas company, announced Monday that drilling operations have concluded at Rojana-1 exploration commitment well in block G11/48 in the Gulf of Thailand.

Rojana-1, which commenced drilling June 23, reached a total depth at 4,916 feet (1,498.4 meters) measured depth, or minus 4,126 feet total vertical depth subsea. No significant hydrocarbon shows were detected in the target reservoirs.

Water depth at the well location is 230 feet. The well is the final commitment well for the G11/48 license, where the joint-venture partners are developing the Nong Yao oil field. Nong Yao is expected to commence oil production in the first half of 2015.

G11/48 covers 1,302.7 square miles (3,374 square kilometers) over the southern margin of the Pattani Basin and the northwest margin of the Malay Basin in water depths of up to 246 feet (75 meters). The block also contains the Angun and Mantana oil and/or gas discoveries.

KrisEnergy holds 22.5 percent working interest in G11/48. Mubadala Petroleum G11 (Thailand) Limited, the operator, has a 67.5 percent working interest and Palang Sophon Limited holds 10 percent.

Rojana-A was drilled using the jackup Atwood Orca (400' ILC) owned by Atwood Oceanics.


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